Here is what I did to get started:
1. Read, Read, and once again read. Educate your self, knowing the market that you are in is crucial in order to do BPO's successfully. There is plenty of information here, read all the posts and you will find out plenty. Know the foreclosure laws and time lines in your state, they vary. The more you educate yourself about this the better.
2. Talk to your broker. Can you keep the BPO fee for yourself or do you have to split that. When listing REO's do you get the utilities turned on in your name or the brokers? There are many more things to consider. do your research. I am fortunate enough to have a broker who worked almost only with REO properties, he knows his stuff.
3. I signed up with a few companies. I never payed for any lists, and I have over Asset Management/BPO companies on my list. I am not signed up with all of them, but I am working on it. A lot of my companies i found through these web sites: http://www.rapidsellers.com/tcheatham/page.asp?num=6118
http://www.dmoz.org/Business/Financial_Services/Field_Service_Companies/
a lot of them are listed on this forum.
It is hard to say if certain companies are good or not, because different people had different experiences with these companies. You need to follow your own judgement.
4. Develop a system for doing BPO's and handling REO listings.
Keep in mind that BPO orders may not come in immediately. Some take weeks and even months to process your info, so it really takes time.
Be patient, do your research, and it i will happen!
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